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BER Research Note

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Thirty years of democracy: A national accounts perspective

Date Uploaded: August 12 2024 12:00


The year 1994 marked the start of a new political dispensation in South Africa. The initial policy framework of the Government of National Unity (GNU), was set out in a Reconstruction and Development Programme (RDP) White Paper. This research note draws on South Africa’s national accounts as a record of the trend in economic performance, against the background of these plans. It provides a summary of what the national accounts are and how they evolved. Aggregate economic performance is presented in the three broad categories in which the national accounts are compiled: production, income and expenditure. Where possible, we look back to 1950 to provide a historical perspective on economic transitions. Lastly, a forward-looking analysis estimates how economic outcomes could evolve differently if government return to the initial investment goals in the RDP policy.